FDIC to insure new senior bank debt: Inviting the SWFs to dinner

From 247wallst.com: Many of the world’s largest sovereign funds believe that they were taken to the cleaners earlier this year when they dumped billions of dollars into large US financial companies like Citigroup (C) and Merrill Lynch (MER). They got to watch the value of their investments drop 50% or more as the credit crisis got worse.

After all of that, it was fair to assume that countries from China to Singapore to Abu Dhabi would not be sending analysts to the America to kick the tires of banks with plans to put in more money in, good dough after bad…. Full Article: Source